By The Numbers Blog
2025 Payroll Compliance Strategies: Navigate IRS Shifts
The IRS workforce reductions in 2024 are set to disrupt payroll compliance in 2025. Longer response times, delayed guidance, and aggressive automation mean businesses must act now to avoid costly penalties. In this post, we’ll break down the risks of IRS staffing changes and share actionable strategies to stay compliant—including how partnering with experts like...
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Federal E-Payment Compliance
The U.S. federal government is phasing out paper checks by September 30, 2025, as mandated by an executive order to streamline payments and reduce costs. This shift to electronic transactions impacts millions of taxpayers, businesses, and financial professionals. For organizations and individuals navigating this transition, Cove Professional Services offers tailored solutions to ensure compliance, optimize...
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What Does Full-Service Bookkeeping Include? A Comprehensive Guide
Running a business involves juggling countless responsibilities, and managing finances is at the heart of it all. Without accurate bookkeeping, even the most promising ventures can stumble. But what exactly does full-service bookkeeping entail? At Cove Professional Services, we specialize in comprehensive bookkeeping services designed to streamline your financial operations and empower your business growth....
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Capitalize on these Cash Flow Management Tips for Your Small Business
Most small business owners would agree with business icon Sir Richard Branson for saying, “Never take your eyes off the cash flow because it’s the lifeblood of business.” No matter how long you’ve been in operation, you know that managing cash flow for a small business is crucial for its survival and growth because positive...
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Budgeting Best Practices for Small Businesses 101
Effective budgeting is the cornerstone of financial health for any business, regardless of its size. For small businesses, in particular, a well-crafted budget helps you plan for the future, manage cash flow, and make informed decisions. In our experience, however, many of our small business clients find the process daunting or don’t know where to...
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5 Reasons Why Hiring a Payroll Service Supports a Small Business Owner’s Work-Life Balance
As a small business owner, you know how often you find yourself juggling multiple roles simultaneously, from managing operations to handling finances. The balancing act required of working in and on your business is tough to strike. It’s no wonder then that so many small business owners struggle to maintain, if not establish, a healthy...
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Filing for a Tax Extension: Forms & Key Dates
Even the brightest minds have found tax season daunting. Albert Einstein reportedly once quipped that “The hardest thing in the world to understand is the income tax.” Tax extensions might be the second hardest. As the tax season approaches, many individuals find themselves facing the looming deadline of April 15th. Sure, the annual deadline never...
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Avoiding Common Tax Pitfalls: An 8-Step Plan to Help Small Businesses Ensure Accurate Tax Filings
Small businesses often face challenges when it comes to tax filings and those challenges can -- and do! -- cause considerable stress. In fact, research tells us that 80% of small business owners in the U.S. feel stressed during tax season with almost 63% of them rating that stress at three or more on a...
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California Sick Leave Requirements Have Changed!
Are you a small business owner in California! Don't forget that as of January 1, 2024, California's paid sick leave requirements have been amended. (more…)
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How to Streamline Your Small Business in Simple Steps
Taxes. Is there anything small business owners dread talking about more? Tax preparation often feels like a monumental, not to mention confusing task, no matter how long you’ve been in business. (more…)
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